The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $47.35 million construction loan for Brick Row, a mixed-use development under construction in Dallas, Texas, according to a MortgageMag report. A three-bank syndication which was led by Colonial Bank, along with Texas Capital Bank and Broadway Bank, provided the three-year construction [...]

Michigan-based Agree Realty Corporation (ARC) today announced that its Board of Directors has unanimously rejected an unsolicited acquisition proposal valued at $328.7 million from Compson Holding Corporation to acquire ARC, according to a Wall Street Journal article. Compson, which made a $38.75-a-share bid two years ago, made an offer of $27.50 a share in [...]

1620 L Street in Washington, DC has been purchased from a joint venture between TIAA-CREF and Chicago-based Equity Office. The John Buck Company (JBC) acquired the property for an undisclosed amount, but the transaction marks the firm’s second acquisition in 60 days. Financing was provided by New York based Hypo Real Estate Capital [...]

Real estate, asset and investment manager Blumberg Capital Partners is raising money to invest in distressed corporate, residential real estate and commercial real estate debt and assets. The target amount for the prospective fund is $1 billion. The Coral Gables, Fla.-based company expects to start putting money to work late this year or in early 2009, buying distressed residential construction projects, debt tied to construction projects and mortgage-backed securities.

FBN (FBN)National Programming, DMA: 0
Oct 17 2008 5:37PM EDT
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Transcript:
Jenna: The buzz today: that the end is nigh for the office party. We were saying that eight months ago on “Happy Hour”, on the other hand you have folks like our next guest who see opportunity at hand. If you’ve [...]

CNBC (CNBC) National Programming, DMA
Oct 17 2008 2:50PM EDT

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Transcript:

The coming year could see prices drop in the US by as much as 20 percent next year, according to research by real estate investment firm Blumberg Capital Partners. Buying opportunities exist, CEO Philip Blumberg argued, though the commercial real estate market would not bottom out until mid-2009 or 2010.

Philip Blumberg of Blumberg Capital Partners talks about identifying markets that are right for buying.

Blumberg Capital Partners, one of the nation’s leading investment fund managers, today said extensive research by its commercial real estate staff suggests significant price erosion of as much as 15% in 2008 across many markets and 20% in 2009 as debt obligations mature and refinancing options dry up.

KBS Real Estate Investment Trust II has finalized the purchase of four office buildings at Park Avenue at Morris County for $362.4 million according to a crefeed.com report. This transaction comes more than a month after KBS REIT II’s September completion of the first phase of the deal, a pickup of the first two buildings, [...]